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Day ahead

  • Bund trade close to where we closed last night, and the contract remains in a fairly tight (176.56/177.16) range so far this week.
  • German 2s/10s trade flat, while 5s/30s lean flatter just on the margin.
  • In term of technical support are unchanged for the contract, 176.48 is eyed initially, followed by the August low at 176.21.
  • Resistance is at this week's high 177.16.
  • German IFO is the notable data out of Europe, and on the other side of the pond, US prelim Durable Goods Orders is the notable release.
  • SUPPLIES: US sell 5yr Note and 2yr FRN reopening.
  • SPEAKERS: ECB de Guindos (Participate in Europe's summer course III), and Fed Mary Daly (takes part in a panel discussion on "Fintech, Racial Equity, and an Inclusive Financial System)

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